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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (AMENDMENT NO. 4)



                              Nathans Famous, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    63234710
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


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                                  SCHEDULE 13G

- ----------------------------------            ----------------------------------
CUSIP NO. 63234710                            PAGE 2 OF 5  PAGES
- ----------------------------------            ----------------------------------


    1        NAME OF REPORTING PERSONS
             S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

             Jordan American Holdings, Inc.

- --------------------------------------------------------------------------------
    2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [X]
- --------------------------------------------------------------------------------
    3        SEC USE ONLY

- --------------------------------------------------------------------------------
    4        CITIZENSHIP OR PLACE OF ORGANIZATION

             Florida
- --------------------------------------------------------------------------------
                                     5        SOLE VOTING POWER

          NUMBER OF                           0
            SHARES             -------------------------------------------------
         BENEFICIALLY                6        SHARED VOTING POWER
           OWNED BY
             EACH                             534,697
          REPORTING            -------------------------------------------------
            PERSON                   7        SOLE DISPOSITIVE POWER

                                              0
                               -------------------------------------------------
                                     8        SHARED DISPOSITIVE POWER

                                              534,697

- --------------------------------------------------------------------------------
    9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

             534,697

- --------------------------------------------------------------------------------
    10       CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 
                                                                             [ ]
- --------------------------------------------------------------------------------
    11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

             11.3%
- --------------------------------------------------------------------------------
    12       TYPE OF REPORTING PERSON*

             IA
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


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Item 1(a).         NAME OF ISSUER:

                   Nathans Famous, Inc.

ITEM 1(b).         ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                   1400 Old Country Road, Westbury, NY  11590

ITEM 2(a).         NAME OF PERSON FILING:

                   Jordan American Holdings, Inc. ("JAHI")

ITEM 2(b).         ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

                   1875 Ski Time Square Drive, Suite One, Steamboat Springs, 
                   Colorado 80487

ITEM 2(c).         CITIZENSHIP:

                   Florida

ITEM 2(d).         TITLE OF CLASS OF SECURITIES:

                   Common Stock

ITEM 2(c).         CUSIP NUMBER:

                   63234710

ITEM 3.            IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
                   13d-2(b), CHECK WHETHER THE PERSON FILING IS A:

                   Investment Advisor registered under Section 203 of the
                   Investment Advisors Act of 1940.

ITEM 4.            OWNERSHIP:

                   (a)       Amount Beneficially Owned: JAHI, in its capacity as
                             a registered investment adviser, may be deemed to
                             be the beneficial owner of 534,697 shares of the
                             issuer's common stock held in discretionary
                             accounts for various clients.

                   (b)       Percent of Class:  11.3%.



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                   (c)       For information on voting and dispositive power
                             with respect to the above-listed shares, please see
                             Items 5-8 of the Cover Page.

ITEM 5.            OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

                   Not Applicable

ITEM 6.            OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
                   PERSON:

                   Shares as to which this schedule is filed are beneficially
                   owned by various clients of the person filing this schedule.
                   These clients receive dividends and the proceeds from the
                   sale of such shares. No such client is known to have such
                   interest with respect to more than 5% of the class, except as
                   follows:

                   NONE

ITEM 7.            IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH 
                   ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
                   COMPANY:

                   Not Applicable

ITEM 8.            IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

                   Not Applicable

ITEM 9.            NOTICE OF DISSOLUTION OF GROUP:

                   Not Applicable







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                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.



/s/ Frederick A. Whittlesey
- --------------------------------
Name:  Frederick A. Whittlesey
Title:  Vice President

Dated:  February 12, 1998


















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